The news came at a time of increasing investor interest in the industry.
There was little retail investor interest in the bond market, he said.
That has kept investor interest in the industry relatively high.
"The price reached the levels it did because of potential investor interest," he said.
The company went public in 1985, capturing substantial investor interest.
Punch called off its $365 million share sale late Wednesday for want of investor interest.
Yet it was still very hard to create investor interest.
The building has attracted significant investor interest with median capital growth at 24.8% during 2007 and 27% in 2008.
Even companies where cable is not the primary business are attracting investor interest.
Despite these issues, analysts say that the business could draw significant investor interest.